Manufacturer ends year with £1bn contracts haul

Coleshill-headquartered automotive components manufacturer Sertec Group has secured nearly £1bn of new contracts this year as the company looks ahead to a positive 2020.

This comes as the business reports sales of £232m and EBITDA of £10.1m in the year ending March 2019.

Sertec supplies some of the world’s most prestigious automotive businesses and has confirmed a number of substantial new contracts in recent months with a value of £1bn over the life of the vehicles, in both their heritage of lightweight aluminium parts and on new specialist components for electric vehicles.

The 2,100-strong business has invested in its team, equipment and capacity in the past 12 months, so it is best positioned for long-term growth with support from all major customers and suppliers.

Grant Adams, CEO at Sertec said: “Given ongoing uncertainty, the past 12 months hasn’t been without its challenges across the wider sector, but we’re stronger for it and already seeing the rewards with new contract wins from a number of car manufacturers.

“We’re optimistic about the year ahead. Our ongoing investment in new technologies is what’s made us one of the UK’s leading OEM suppliers. The opportunity in the industry around electric vehicles is huge and we’re at the forefront of that.

“Internationally – our site in Hungary is perfectly placed for the mainland European market at the centre of an automotive manufacturing hub. Our aim is to double the turnover of this location in coming years.”

In 2016, Sertec secured a £20m funding package from BGF, Lloyds and Santander to support its growth ambitions, all three have extended additional support to the Group for the future. Since the investment, Sertec has expanded its customer base and extended its geographical reach into Europe through acquisitions.

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